Farewell to Greenbacks? EU Challenges Dollar Dominance With ‘Stronger’ Euro

Farewell to Greenbacks? EU Challenges Dollar Dominance With ‘Stronger’ Euro

The European Commission has presented a set of measures to boost the euro as a global reserve currency to challenge the dollar in international transactions, including those in the energy sector. A number of states have taken the course of de-dollarisation in a bid to decrease dependence on the greenback and its clout on the energy sector, mainly in transactions with sanctions-stricken Iran.

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